Tool Of The Trade
The Age
Saturday June 17, 2006
The internet is proving valuable for buyers and sellers alike.
BUYING and selling property is not an everyday event for most people, so those entering the market for the first time are probably also discovering the role of the internet in real estate.Search engines and portals such as domain.com.au and realestateview.com.au have revolutionised the way property is bought and sold. They have had an impact both on the buying and selling of properties, especially in terms of the ease and speed of getting information. Instead of waiting for the weekly paper or agent's brochure, updates are as instant as their posting on the site.These days, any marketing campaign must include an internet component. Vendors can not only opt to list with one or multiple real estate portals, they can also choose how much information they want to provide on their property. Internet tools such as virtual tours, detailed floor plans and location maps are modern options previously denied to vendors.For vendors, it is worth knowing about not just the reach to its target market of each site but also whether the site is one that comes up first in a search engine.It is also important to remember that the internet allows people to rapidly compare properties, so the more information vendors make available to buyers, the more likely they are to sell.Buyers also have many advantages on the internet. Cutting out the need to wait for calls back from agents on inspection times or estimated price ranges is one of them. Buyers can also set up real estate sites to email them when new properties that match their criteria are listed.The inclusion of automated geographic maps also gives buyers information on the surrounding amenities of the property they are interested in.-- Enzo Raimondo, chief executive officer, Real Estate Institute of Victoria
© 2006 The Age